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GlobalTec Solutions ripoff, scam, lies, refund problems by Market Investment Software Company programs. Addison Texas
This post is the first of several I will post warning people about various investing software and website investing sites. These are the ones I have had experience with. All of them, with the exception of one, are bait and switch sales scams, in my opinion. They show you, in a 2 hr. demonstration, and in a one or two day class, how great their programs appear. Then they tell you need to spend many thousands of dollars in training to be successful after you own any of their $3,000 programs.
They get you to invest approximately $3,000 to try their program for about 10 days at the 2hr. demonstration. If you follow the return procedure to the letter you can get your money back in about 3 weeks. If letting them use your money for a month or so is ok with you then take advantage of their offers but make sure you follow the cancellation procedure accurately. You will get some valuable training, if you do, at a relatively cheap cost.
The worst of them, in my opinion, is GlobalTec Solutions with their software programs: 4X Made Easy, Options Made Easy, Wizetrade, and Commodities Made Easy. The main reason they are the worst is because they claim to provide technical and customer support, which is a total lie. Secondly their program is basic and inferior as I will explain later.
I first tried 4X Made Easy in October of 2004. I had to reformat my hard drive after their tech support people made it unusable. I could not get phone calls returned from their support. I had to wait 2 days for that then, and it is little if any better now. I submitted questions to their Talk Live instructor and got ridiculed. I managed to get a refund after the trial period by threatening to post information here, which of course I am now doing. The program doesn't work the way it is described in the tutorial. The tutorial is wrong in so many ways it is pathetic. If they can't get that right even, why would anybody trust anything in the program?
I am currently trying to use the program with a friend who owns it. I cannot get any support now, being told to get it from the user because I am not a currently registered user. In their 2 hr. sales pitch, and in the one-day classes, they tell you can put the program on as many computers as you want but only one user can be logged on at a time. They tell you can have a trading partner attend the free classes and they will provide both technical and customer support for both. This is a lie.
Since October I have tried their Options Made Easy program twice, Wizetrade and 4X Made Easy again. I returned them all for the same reason, that being no support and being ridiculed. You cannot even sell the program to somebody else to use. They won't let you do that. If you don't find them useful you LOSE. You may be able to find somebody that wants to use the program and will do it with you, you remaining the owner. You may find somebody who will share the cost on that basis.
All of their programs are based on buying and selling pressure using a green and red line to track it in different time periods. That is totally inadequate and any professional trader will tell you so. You have to use charts to track trends and know support and resistance. Buying and selling pressure is only one confirmation tool, which is all these programs are good for.
At $3,000 per program, plus $100 per month for the data feed, and $100 per month for their tracking program(s) it gets a bit expensive. Not for all but for me it is. Just be aware of the total costs. That equates to more than $5,200 for the first year for 4X Made Easy alone.
Another company, I have experience with, that I will post about later, has a program that does what it takes 3 of GlobalTec's to do, and it has built in graphs, charts and confirmation tools needed to confirm trades. To do that with GlobalTec's you have to get the charts and other confirmation tools someplace else. The other company's program is the same price as any one of GlobablTec's programs, namely $3,000 with a data feed costing $100 per month maximum.
GlobalTec promotes a broker actively, named FXCM, who has been accused of spiking to take out stops and many many people have at least documentary evidence to demonstrate that, and at least one broker/investor has said he was shown a broker software module to do just that. If you do buy the program do not use this broker as you will be BROKER. 95% of the people getting into this business, using these kinds of programs, fail losing their brokerage account amounts and give up. That is a very high figure so make sure you know what you are doing before using real money no matter how you go about it.
My advice is simple. Try them if you want to learn some techniques of trading, and are willing to let them use your money for the time required, but do not keep them because of the problems involved. If you want any follow up documentation I will be happy to send you the emails as proof. What these people are being allowed to do is criminal, in my opinion.
David
Tustin, California
U.S.A.
5 Updates & Rebuttals
David
Tustin,California,
U.S.A.
HOW TO HURT GLOBALTEC
#6Author of original report
Thu, March 02, 2006
Here is what you do to hurt Globaltec's sales. Type the following on a piece of paper. It should fit on 1/2 sheet just fine, and that way you will be handing out a small piece of
paper. Then go to the location where Globaltec will be presenting their software and or the one-day class. Make a sign that will attract people as they drive in, but be careful, as ou will need to do it at the entrance but not be trespassing on private property. The sidewalk is public property where you can hand out information. If you are there about 30 - 60 minutes before you will catch many of the people that will see the presentation of the software and/or the class. You can stay there and catch more of them as they leave if you desire to.
This is to inform you about the company that will be presenting you a program today to do investing. Globaltec Solutions is a company that promotes software using one factor relating to trading in the foreign currency market and or the stock market. That factor is buying/selling pressure. They claim to be able to accurately predict the trend, and correct marketing
conditions that must exist, to have a successful trade.
If you take it to try it, get in and use the paper-trading feature as much as possible between now and the time you go to the one-day training. Get as familiar as you can with the
program features. You will find a lot of things that are difficult to understand. The tutorial isn't accurate so that makes it extremely difficult for a new user to follow the setup
procedures. Then find some users in the Yahoo User groups and ask them tons of questions.
My advice to you is, look at it, maybe even try it, but before you go to the one-day training look at the following websites. If after all this you still think it is good, or even good
enough, then go for it. If you take the DVD's home after the one day training YOU'VE BOUGHT IT and will be very lucky if you could get a refund. You can't resell it to another user! While you could if you remain the owner of record they won't get support. Two or more people can use it, but only one on at any
one time, but that can reduce the cost if you have a trading partner, which is encouraged because you can share ideas.
If you want to know more about them as a company go look at some reports by other users at:
http://ripoffreport.com/reports/ripoff147620.htm
http://ripoffreport.com/results.asp?q1=ALL&q4=&q6=&q3=&q2=&q7=&searchtype=0&submit2=Search%21&q5=globaltec&Search=Search
http://www.houstonpress.com/Issues/2006-02-02/news/feature_1.html
David
Tustin,California,
U.S.A.
MORE INFORMATION TO BASE DECISIONS ON !
#6Author of original report
Mon, February 27, 2006
I feel the need to post another rebuttal this soon because of Jeff's post. I have several things to add that might help paint a picture for users what to expect when dealing with Globaltec and it's people, like Jeff Johnson.
I believe I explained why I never responded to his email in my email to him that I posted a couple of days ago where I said and I quote again "I had decided to give up on the idea of trading and did nothing for several months. Aproximately a month ago I decided to try it again and am now learning how to trade primarily using the AI software."
I also explained in my email to Jeff on Feb. 7th. (which is posted above that he never answered) why I never took the trouble to answer his idioic request, wasting my time. In fact I have an email where I did tell him the pages of the Tutorial that were messed up and the specific items. It is too long to post here.
I want to thank Jeff for saying that "Globaltec and Dynetech are in no way associated with PremiereTrade AI or James Dicks." However, that confirms and conflicts with what James says. James says his company is not owned in any part by Dynetech but he does use them to promote his product, PremeireTradeAI. I addressed that before by saying I believe that is why Globaltec did not sue James because of using a customer list to contact all of Globaltec's customers.
Relative to Mike Stewart I am including my email and his response to it so you can know what to expect in dealing with him and Globaltec. I assume Mike is making his assesment of me because I am trying to warn people by posting here (and his and my disagreements in the past that I could post but won't.)
I sent Jeff two more emails about 4X Made Easy on Feb 25th. 2006 , one with screen shots asking why their latest training manuals and the tutorial don't even match the screen for setting money management. Have I gotten a response to those? NO.. the same as I didn't to my Feb. 7th. email to him.
Below is the email I got from Mike Stewart that includes mine to him:
From: "M S"
To:
Subject: RE: Thought you were ?
Date: Sun, 26 Feb 2006 19:56:47 +0000
Dynetec is the correct spelling you jackass.
From:
To: M S
Subject: Thought you were ?
Date: Sat, 25 Feb 2006 21:39:42 -0800 (PST)
Mike, Thought you told me you were going to work promoting PremiereTradeAI for James? Guess that was another lie based on the fact you work for Dynatec wasn't it?
Now I see you are still promoting that piece of crap called 4X Made Easy.
In as much as James gave me the use of his program, the data feed, alerts service and the Scanner free for, for however long it will be, I guess I should trust him but boy it's hard doing so.
I'm sure you have read the stuff posted on ripoffreport.com about Globaltec but here is another link you might want to check out. In fact if you have't here is the link to ripoffreport that will get you there. I just added to my post to Jeff's rebuttal.
http://ripoffreport.com/reports/ripoff147620.htm
http://www.houstonpress.com/Issues/2006-02-02/news/feature_1.html
Jeff
Addison,Texas,
U.S.A.
Response from Company
#6UPDATE Employee
Mon, February 27, 2006
David,
First off, to begin your post by asking why it took me three months to post a reply to your orginal posting, when it has taken you more than 5 months to reply to mine, and to date you still have not ever responded to my email, is quite indicative to me of your own credibility.
I have offered to assist you even though you are no longer an owner of any Globaltec product. You have continuously failed to provide me any details of the problems you have experienced. We have refunded you each time you have purchased the product and requested a refund, which is indicative that we have stood behind our promise to you even though you have failed to stand behind your own agreement.
In response to your inquiries, Globaltec and Dynetech are in no way associated with PremiereTrade AI or James Dicks. It is certainly your prerogative if you choose to utilize that product or any other for that matter. I will not try to discourage you in any way from finding what works best for you.
Mike Stewart is still a presenter for the 4X Made Easy software. I am sorry that this disappoints you.
Respectfully,
Jeff Johnson
Vice President Operations/COO
Globaltec Solutions
David
Tustin,California,
U.S.A.
Follow up to Jeff's rebuttal !!
#6Author of original report
Sat, February 25, 2006
Here is my rebuttal to Jeff's remarks which I didn't see until February 7th., when I wrote to Jeff asking for feedback which I never got so I going to post my email to him here. Perhaps he will post another rebuttal, answering it here. We will have to see I guess.
Also I just saw their new program "COMMAND TRADE" where they make it sound like it will trade for you automatically on predefined strategies, sit there and make money for you all by itself. If it did that I am sure no broker would let you trade with it and I have been told by one of Globaltec's ex employees "I have command trade, it tottaly does not wok like they say, iwas completely dissapointed in it"
Probably enough said as this man knows what he is doing.
===============
Date: Tue, 7 Feb 2006 12:38:06 -0800 (PST)
From: View Contact Details Add Mobile Alert
Subject: Re: 4X Made Easy and Wizetrade Support
To: "Jeff Johnson"
Jeff:
I want to address something that has been riding for a long time. I just found something in my email that told me you had posted a rebuttal to my post on Ripoffreport.com on 9/21/2005
8:15:18 PM. In it you posted your email to me below and made some comments.
First off I am curious why you waited almost 3 months to post a rebuttal?
Second you said "Therefore, if you are using someone else's software, then I suggest you go to them for support or have them contact us directly for assistance." to which I had addressed in my complaint. Since I was using the software (actually still am some) according to your procedures you should have been
providing support to them and their trading partner as you say you will in your 2 hr. presentation and at the one day classes.
I talked about the tutorial having errors and you wanted me to spend hours and hours taking screen shots etc to send you. I didn't want to waste my time doing that as there were so many.
Simply said it had and probably still does have the same errors.
I talked about the trade process in the software not working right. What I meant and have never had anybody give me an answer about is that I have no way to figure out, if you use the calculator, if it will set a stop and limit properly based on risk to reward figures entered in the calculating process. I don't belive it does. I do know as I am not able to use the
trading platform in the software and realize successful trades.
The program doesn't provide the support and resistance information and, as I said, you have to go somewhere and look at charts to get those figures and amatures have trouble knowing where those are.
I assume you know one has to determine support and resistance and have their stop below support a certain number of pips and a limit a certain number of pips below resistance if going long
(opposite procedure if going short) and if you are using a 1:1.5 RISK TO REWARD ratio that movement from your stop to your entry has to be no more than 40 percent. If the current price
is 80 pips from support and there is only an additional 20 pips to get to resistance that is a 4: 1 ratio or more against the trade if made. If it doesn't meet that then one has to use an
entry order to wait for a retracement before entering a trade.
The program doesn't lend itself readily to making those calculations.
Blake makes it sound like if you get trades based on the "lights" using F.A.S.T you will get in early enough to be successful but I am not able to. Almost all my trades will go against me within one time frame of the entry light and Blake claims they tend to run 4 to 5 time frames. It would seem to me if I am using a swing trade style and have F.A.S.T (per the
guide) the trade should not immediately turn against me. So therefore I say it doesn't work. I was origionally setting my stop about 110 pips below my entry if going long and could never get anybody to tell me where to set a stop properly. I only learned that from the people at PremiereTrade. I don't think they have ever talked about that in any of the 4X classes I have
been to. All they do is say "set it further from entry". If I try to use the values relative to the red and green buying selling pressure lines that isn't any good because one time there might be 3 frames or more of height yet the price the same or even less... it's just screwy in my opinion.
Finally, using just buying and selling pressure to base a trade is kind of meaningless and realistically speaking that is what people try to guage it on. By comparison PremierTradeAI has
chart entry "arrows, lights" whatever you want to call them. Then it has 4 confirming tools (Chart with a moving average calculation, buying and selling pressure, a volume guage,
momentum), support and resistance calculations, charts with different studies right in the program, and a trade button that makes much more sense..... This all in one program that includes
STOCKS, OPTIONS, MUTAL FUNDS, and FOREX for the same price as any one of Globaltec's. Their data feed for all is $100 versus that much for one of Globaltec's programs. It also has a
scanner available that finds trades for all the markets for $100 a month which Globaltec charges $100 each for theirs.
I would really like to know who owns who because of what Paul Atkins told me. If Dynatec does indeed own Globabltec, PremiereTrade, Optionitics, Invest Tools, Better Trades and
maybe even Russ Whitney's Teach Me to Trade & Star Trader then they are a giant ripoff company.
However James Dicks and all his people adamantly deny they are connected with Dynatec other than for marketing. That follows as to why Globaltec has not sued PremiereTrade for using their customer contact list. But nobody will own up to that. When I posted information about PremiereTrade James Dicks called me personally and gave me full use of the AI program, the data
feed, Alerts, and Scanner free for an indifinite period of time.
I had decided to give up on the idea of trading and did nothing for several months. Aproximately a month ago I decided to try it again and am now learning how to trade primarily using the AI software.
Is Mike Stewart still promoting your programs? If he is that will be disappointing to hear.
Sincerely,
Jeff
Addison,Texas,
U.S.A.
Response from Globaltec Solutions
#6UPDATE Employee
Wed, September 21, 2005
Dear Mr. Clarke,
I am very sorry to know that you feel this strongly about the Globaltec Solutions suite of products. However, I would like others reading your post to know that our company is very willing to counter post your allegations and provide evidence. As you may recall, I personally sent you an email on June 16th responding to your inquiries and giving you the opportunity to please provide some details and I would personally make sure they are responded to. That email is pasted below for all to read, so that they know that we have made every attempt to assist you, and that you never responded to my email. You are certainly entitled to your opinion, but as you stated we have delivered on your refund each time you requested. Even when you threatened, and as you stated in your post, we refunded and you went through on your threat anyway.
You are still welcome to respond to the email below and I will still honor my statement to answer any questions you have if you can please provide the requested detail. Our company stands by our products and strives to provide excellent service every single day to our customers.
Sent: Thursday, June 16, 2005 10:56 AM
Subject: 4X Made Easy and Wizetrade Support
Mr. Clarke:
As of this date my records indicate that you have returned all software purchases and have been refunded in full. Therefore, you are no longer a customer of Wizetrade, 4X Made Easy, or Options Made Easy products. Your June 15 email indicates that you are using 4X Made Easy, however, I can assure you that you do not have an active account with us any longer. Therefore, if you are using someone else's software, then I suggest you go to them for support or have them contact us directly for assistance.
Your account as well as trading partner Ms. Wallace is very well documented with all the support and assistance that has been provided since last October 2004. I do apologize if you feel you have not received the support you desired. However, our records do reflect substantial support provided to you as well as the manner in which you treated many of those who tried to assist you. You have exercised your right to a refund each time you have purchased, and each time we have complied with your request.
You have further persisted to send emails with vague inquiries and little detail, even though you no longer possess any product. That being said, I am going to provide this last opportunity to resolve whatever issues you may have. I am requesting that you provide specific details to your concerns in a professional manner, and you have my word that I will look into them and seek a reasonable resolution.
1. You have stated in your email dated June 14th below that there are errors in the tutorial that have not been corrected. Please describe the errors and provide a screenshot in the tutorial of the mistake you have detected.
2. You have also stated that the trade process in the software didn't work right in 6.0 and still doesn't in 7.0 Please describe what about the trade process is not working for you in detail and provide a screenshot example for us to see.
3. You state that you have had problems getting support when you were an active customer. We have 24 hour support in technical support and you are able to get instant live online support from technical support from our websites at any time of day. Our offices have just switched to a new phone system in the last 2 weeks that now allows all customers to hold in queue when all representatives are busy in any department, instead of having to leave a message. You also do have the ability to leave a message if you do not want to hold and still retain your spot in the queue. Often times, a customer is able to connect immediately to a representative and hold times are generally less than 2 minutes most of the time. I do apologize for any support issues you have experienced in the past but do believe that you will find that the new process and technology is much more efficient and convenient for our customers.
I look forward to receiving the additional detail to your concerns and working to resolve them. Please feel free to direct all future email correspondence to me directly as you will not receive support from the technical and customer service departments due to the cancel status on all of your accounts. Once your concerns above are detailed and addressed accordingly, we will consider these issues closed and you will need to direct all other concerns to the licensed holder of the software.
Respectfully,
Jeff Johnson
Vice President Operation/COO
Globaltec Solutions